Creating a corporate binder for your nonprofit is an important part of maintaining your organization. It is relatively easy to set up your corporate binder, but it requires regular and meticulous updating.
What is it?
Your corporate binder is where you keep a physical copy of all your corporate records and proceedings. It is a record of all your meetings and other corporate related documents. In this binder you should include:
- Articles of Incorporation
- Meeting Minutes
- 501.c.3 IRS Approval Letter*
- Business License(s)*
- Board Member List*
- Annual/Biennual State Reports*
* The IRS approval letter, business license (if needed), permits, board member list and State reports are optional. I like to include them in the binder so future boards can see what paperwork has been filed in the past. This also serves as a reminder to stay current on all your paperwork. Note: some licenses and permits are required to be posted in public areas, so simply make a copy of them for the binder.
Is it really just a binder?
Yes. It is that simple. Go to an office supply store and buy a three ring notebook and some tabbed index dividers. Label the binder with your nonprofits name and add all the documents. It’s a good idea to keep things like your meeting minutes and board member lists in chronological order. I prefer to have the most recent record on top.
That’s it. That is your corporate binder.